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Yahoo BusinessOct 28, 2020
Ford Posts Strong Third-Quarter Earnings, Sees 2020 Profit
(Bloomberg) -- Ford Motor Co., riding a wave of momentum from new models and new management, handily beat expectations with third-quarter earnings that outran the economic effects of the coronavirus pandemic.Fueled by strong sales of pricey pickups, Ford posted adjusted earnings per share of 65 cents, well above the 19 cents analyst consensus forecast. Big profits in North America offset weakness overseas, allowing the company to revise its full-year forecast. It now expects to stay in the black this year, a reversal from an earlier outlook for its first annual loss in a decade.Ford's stock rose as much as 7.8% in postmarket trading after closing Wednesday at $7.70. The shares are down about 17% this year.The long-suffering automaker is enjoying a surge in sentiment since industry veteran Jim Farley became chief executive officer Oct. 1, replacing retiring Jim Hackett, to whom Wall Street never warmed. Intense and demanding, Farley is expected to jumpstart a turnaround that has been sputtering for years. The latest quarterly results help position the company to put the worst behind it.Ford said adjusted earnings before interest and taxes came to $3.6 billion in the quarter compared with $1.8 billion a year ago. Revenue in the quarter was $37.5 billion, above the $33.98 billion analysts anticipated.Unresolved IssuesFarley said the bullish performance belies underlying woes that need to be resolved before the carmaker can achieve its goal of sustainable profit margins above 10% in its core North American market."

Google Business NewsOct 28, 2020
S&P 500 Dives 120 Points: COVID-19 Cases Surge, Sending Tech Stocks Back Into Correction - The Motley Fool
S&P 500 Dives 120 Points: COVID-19 Cases Surge, Sending Tech Stocks Back Into Correction  The Motley FoolDow sinks more than 900 points for its worst drop since June amid rising virus cases globally  CNBCS&P 500 Tumbles in Worst Stock Rout in Four Months: Markets Wrap  msnNOWThe Dow Jones and the S&P 500 just experienced their worst day since June  Yahoo NewsStocks Post Worst Day in 4 Months as Infections Rise Around the Globe  The New York Times

Google Business NewsOct 28, 2020
Entertainment Workers Protest As Merkel Announces German Coronavirus Lockdown | NBC News NOW - NBC News
Entertainment Workers Protest As Merkel Announces German Coronavirus Lockdown | NBC News NOW  NBC NewsGermany, France announce new Covid restrictions as outbreaks surge across Europe  CNBCMerkel says Germany has lost control of coronavirus as country goes into lockdown  The Washington PostGermany and France announce new lockdowns as coronavirus cases spike in Europe  NBC News

KiplingerOct 28, 2020
Stock Market Today: Dow Drops 943 Points as Investors Storm the Exits
So much for the market's best day of the year. Oct. 28, on average the S&P 500's best-performing day over the past 70 years, was instead one of 2020's worst as COVID-19 concerns continued to flare up in the U.S. and Europe.

Cities such as Chicago and Newark are renewing restrictions on businesses and public gatherings amid not just record-high new caseloads in America, but rising hospitalizations and deaths as well. In Germany, restaurants and theaters will be shut down for four weeks, and other European countries are stepping up their own measures to fend off a second wave.

SEE MORE 15 Mighty Mid-Cap Stocks to Buy for 2021 Big Tech suffered from additional downward pressure, as the CEOs of Facebook (FB, -5.5%), Twitter (TWTR, -5.3%) and Google parent Alphabet (GOOGL, -5.5%) faced Congressional inquiries about moderating user content.

The S&P 500 did not come close to meeting its average 0.54% gain on Oct. 28, instead plunging 3.5% to 3,271.

Other action in the stock market today:

The Dow Jones Industrial Average declined 3.4% to 26,519.The Nasdaq Composite lost 3.7% to 11,004. The Russell 2000, best of the four major indices Wednesday, still dropped 3.0% to 1,543.

Google Business NewsOct 28, 2020
Dow's 812-point drop led by losses for Nike, Visa stocks - MarketWatch
Dow's 812-point drop led by losses for Nike, Visa stocks  MarketWatch

Yahoo BusinessOct 28, 2020
NCR's 3Q Sales Dive 11% As Covid-19 Hurts Hardware Business
NCR Corp.'s 3Q revenues fell 11% to $1.59 billion year-over-year dragged down by a 26% decline in hardware sales. However, revenues of the ATM (automated teller machine) and POS (Point-Of-Sale) hardware and software solution provider came ahead of analysts' estimates of $1.55 billion.NCR's (NCR) ATM hardware sales plunged 40% as the COVID-19 pandemic impacted ATM installation activities. Moreover, its SCO/POS (Self-Checkout/Point-Of-Sale) hardware sales shrank 6% on a year-on-year basis.The company's 3Q adjusted EPS decreased by 26% to $0.54 year-on-year but came ahead of the Street estimates of $0.36.NCR's CEO Michael Hayford said, "Our third quarter performance reflects solid execution of our strategy and the resiliency of our solutions in a difficult operating environment that continues to be impacted by COVID-19." He further noted, "Looking ahead, we still face a challenging operating environment but we remain confident in our ability to execute our strategy and grow recurring revenue, drive cash flow generation and expand margins." (See NCR stock analysis on TipRanks).Ahead of its earnings release, J.P. Morgan analyst Paul J Chung upgraded the stock to Buy from Hold and raised the price target to $27 (23% upside potential) from $21. Chung is encouraged by NCR's margin structure and free cash flow outlook. The analyst sees modest growth in ATMs per branch and forecasts a steady fundamental recovery over the next 6-12 months.Currently, the Street is bullish on the stock. The Strong Buy analyst consensus is based on

NYTimes BusinessOct 28, 2020
France Braces for Economic Suffering as Lockdown Returns

Forbes HeadlinesOct 28, 2020
Stocks Just Had Their Worst Day In Four Months-Here's How The Election Could Make Things Worse
The Dow plunged close to 900 points on Wednesday as a striking surge in coronavirus cases heightens pre-election uncertainty just six days before the election. Don't expect volatility to end soon.

Yahoo BusinessOct 28, 2020
US STOCKS-S&P 500, Dow sink 3% to late-Sept lows on virus, election worry
The S&P 500 and the Dow slumped on Wednesday to their lowest levels since late September, as coronavirus cases climbed globally and investors also worried about the possiblity of a contested U.S. presidential election next week. A spiraling pandemic and the failure to approve new fiscal stimulus before the Nov. 3 election put the blue-chip Dow on track to close at its lowest since early August.

CNBC FinanceOct 28, 2020
Dow sinks more than 900 points for its worst drop since June amid rising virus cases globally
U.S. stocks fell sharply amid concerns over the latest increase in coronavirus infections and its potential impact on the global economy.

Google Business NewsOct 28, 2020
Wall Street sinks 3%, Dow at late July lows as pandemic surges - Reuters
Wall Street sinks 3%, Dow at late July lows as pandemic surges  ReutersView Full Coverage on Google News

Google Business NewsOct 28, 2020
Tech hearing live updates: Facebook, Google, Twitter CEOs clash with Congress in pre-election showdown - The Washington Post
Tech hearing live updates: Facebook, Google, Twitter CEOs clash with Congress in pre-election showdown  The Washington PostLive: CEOs of Facebook, Twitter, Google Testify at Senate Hearing | NBC News  NBC NewsFacebook, Google, Twitter CEOs to tell senators changing liability law will destroy how we communicate online  CNBCReform Section 230 Now | Opinion  NewsweekWATCH LIVE: Facebook, Google and Twitter CEOs testify in front of Senate  Washington Post

USA Today MoneyOct 28, 2020
See how tax brackets affect your income tax rate in surprising ways
Why being taxed, say 22% of your income, is a lot more complicated than you may assume. Here's a breakdown of what you actually pay in income taxes.       

MarketWatchOct 28, 2020
NewsWatch: Dow futures drop over 600 points as COVID cases rise
Stock-index futures see big losses Wednesday, under pressure as COVID-19 cases continue to rise in the U.S. and Europe, presenting a threat to the economic recovery.

Google Business NewsOct 28, 2020
France and Germany Lock Down as Second Coronavirus Wave Grows - The New York Times
France and Germany Lock Down as Second Coronavirus Wave Grows  The New York TimesFrance, Germany Announce New Lockdowns to Combat Covid-19 Resurgence  The Wall Street JournalFrance Set for Tighter Virus Curbs, Germany Could Follow Suit  Bloomberg PoliticsMacron's Clash of Civilizations Is Misguided  BloombergEurope's coronavirus cases continue to spike amid growing calls for second lockdown  Fox NewsView Full Coverage on Google New

Melbourne, Australia, Ends Its Lockdown After 111 Days - NPR (Google Business News)

Yahoo BusinessOct 28, 2020
Visa posts beat on quarterly estimates
Visa reported Q4 estimates that topped the Street's expectations. The credit-card company posted $1.12 EPS and $5.41B in revenue, outperforming consensus estimates of $1.09 EPS and $5B in revenue. Yahoo Finance's Myles Udland breaks down the details.

Ford posts beat on quarterly estimates (Yahoo Business)

MarketWatch MarketPulseOct 28, 2020
MediaAlpha stock gets off to a good start on a bad day for the stock market
Shares of MediaAlpha Inc. got off to a good start Wednesday on a bad day for the overall stock market, as the Los Angeles-based insurance broker went public 21.1% above the $19 initial public offering price. The stock's first trade was at $23.00 at 12:01 p.m. Eastern for 1.2 million shares. The IPO priced late Thursday right in the middle of the expected range of between $18 and $20 a share, as the company raised $118.9 million and a selling shareholder sold $56.8 million worth of shares. The stock has inched slightly lower since it opened, to trade 20.8% above the IPO price. MediaAlpha went public on a day that the Renaissance IPO ETF dropped 3.2% and the Dow Jones Industrial Average shed 663 points, or 2.4%.

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